Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.9% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) shares fell 1.9% during mid-day trading on Friday . The stock traded as low as $471.96 and last traded at $472.36. 15,713,338 shares were traded during trading, a decline of 55% from the average session volume of 34,794,866 shares. The stock had previously closed at $481.62.

Invesco QQQ Trading Down 2.6 %

The company’s 50-day moving average is $508.43 and its 200 day moving average is $505.09. The stock has a market capitalization of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PayPay Securities Corp lifted its holdings in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ during the 4th quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at $36,000. Roxbury Financial LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $37,000. Finally, Hoese & Co LLP raised its holdings in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Invesco QQQ

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.